Tiny RXi bags an option to buy CAR-T fledgling MirImmune
Eighteen months after MirImmune grabbed a license to RXi’s $RXII RNA tech for use in developing new cell therapies, the tiny mother ship — with a market cap of only $11 million after a steady fade of its stock price — is now looking to reel back the whole effort under a buyout option.
Based in Marlborough, MA with a group of co-founders that includes the former CEO of Sepracor, Tim Barberich, the low-profile MirImmune went to RXi last March to gain a license to a tech that could be used to develop new cell immunotherapies for cancer — a hot topic in the biotech world. Initially, RXi had reserved an option for a chunk of MirImmune.
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